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Navigating Salt Lake's Evolving Multifamily Market Dynamics

Analyzing Development Cycles, Shifting Zoning Regulations and Affordable Housing Initiatives

Eli Mills

Eli Mills

CIO

Gardner Group

Stephen Alfandre
Pacific Yard & West Village- Granary District

Stephen Alfandre

Founding Principal

Urban Alfandre

Eva Lopez Chavez

Eva Lopez Chavez

Salt Lake City Council Member

District 4

David McCleve

David McCleve

Managing Director

Bridge Investment Group

Claudia O'Grady

Claudia O'Grady

VP, Multifamily Finance & Dev.

Utah Housing Corporation

Tom Harper
Moderator

Tom Harper

Director, Commercial & Government Relations

Cottonwood Title

Eli Mills

CIO

Gardner Group

Eli Mills has been a part of the Utah commercial real estate landscape for over 30 years. He has completed more than 400 transactions valued at over $4.5 billion. Eli has represented and advised many of the largest real estate investors in the United States introducing many institutional and private investors to the Utah marketplace. He was a founding member of NAI Utah Commercial Real Estate Inc. (now Newmark Grubb Acres) and was on the leadership board of NAI’s Global Investment Council. Subsequently, he spent thirteen years at CBRE spearheading the number one multifamily and office investment sales teams in Utah. Eli has raised capital and sold many of the largest commercial projects in Utah. He was on the national CBRE institutional office and multifamily teams and is a popular speaker and respectable thought leader on capital markets and the Utah real estate market. He has established a reputation as a data driven and detail oriented professional with great integrity. In 2022 he joined Gardner and leads the company’s relationships with the investment community and oversees the investment process and evaluation of all projects. He is married and has 8 children and one grandchild.

Stephen Alfandre

Pacific Yard & West Village- Granary District

Urban Alfandre

Stephen is a Founding Principal of Urban Alfandre and brings over 16 years of real estate acquisition, development, finance, and operational experience to the company. Recently he led the acquisition and development efforts for the Toll Brothers City Living office in Washington DC where he sourced all types of urban residential deals in multiple submarkets. Prior to Toll Brothers, Stephen worked with the Bozzuto Group where he managed multiple infill residential developments. He also spent time working in various real estate consulting and development roles in Salt Lake City prior to moving back east.

Stephen received an MBA in real estate and entrepreneurship from Georgetown University and a bachelors degree in Urban Planning from Brigham Young University. He has served as a panelist on multiple DC-area real estate expert panels - including three times with Bisnow - and has also been featured in real estate articles in the Washington Post, Washington Business Journal, and Wall Street Journal.

Stephen grew up in the Washington DC area and now lives in the greater Salt Lake City area with his wife and five children.

Eva Lopez Chavez

Salt Lake City Council Member

District 4

Eva Lopez Chavez is the eldest daughter in a working-class Mexican immigrant family. She was raised to respect her elders, always lend a helping hand, and above all else, la familia es siempre primero: Family is always first.

Elected to serve in 2024, Eva is the first Mexican-American elected to the Salt Lake City Council. Born in Salt Lake City and raised in Southern Idaho, she is a proud daughter of the Rocky Mountain West, a member of the LGBTQ+ community, and serves as a local consultant to businesses and organizations. Eva attended the University of Utah and studied political science from 2015-2018. Throughout her career, Eva has been actively involved in grassroots organizing and community engagement efforts, with a focus on social justice for marginalized communities.

Eva has witnessed firsthand the unique challenges and opportunities in the City, such as civil enforcement, community engagement, public process and more. In her former role, she worked as a Mayor’s Office Liaison and outreach specialist helping connect communities to the intersections where policy is created.

As Council Member, her decisions revolve around these three core principles: inclusivity, sustainability, and community. She firmly believes that Salt Lake City thrives when every voice is heard, and every resident feels valued. Eva aims to ensure that diverse perspectives are represented in decision-making processes and that all community members have equal access to resources and opportunities.

Eva is committed to building partnerships and fostering transparent and accountable governance, fighting for policies that prioritize the well-being of District 4, ensuring residents are heard and protecting their interests. Together, with the support of the community, Eva aims to connect communities and include every Salt Laker in the public process.

David McCleve

Managing Director

Bridge Investment Group

David McCleve serves as a Managing Director for Bridge Multifamily Fund Manager. He is responsible for originating and overseeing multifamily acquisitions and asset management in the Western U.S.  David began his career at Bridge in 2010, gaining experience across multiple asset classes, including multifamily and commercial office. In 2016, he was promoted to Director in Bridge Office, where he ran the western region. His responsibilities included originating and structuring transactions, leasing, and overseeing the execution of the asset-level business plans. In 2021, David transitioned to Director of the western multifamily region. In this role he was responsible for originating new transactions, overseeing the acquisition process, and asset management. David received a bachelor’s degree in Business Management from Brigham Young University.

Elevating the Rental Experience

Positioning Your Property for Success in a Resident Market Through Tenant-Centric Approaches

Jake Jarman

Jake Jarman

President

Redstone Residential

Ben Krasnow
NOVEL Daybreak

Ben Krasnow

Managing Director

Crescent Communities

Adam Berger

Adam Berger

SVP

Avenue5 Residential

Belle Kurudzija
The Charles

Belle Kurudzija

Head of Commercial Design

Open Range, FKA Lisman Studio

Mike Watson
Moderator

Mike Watson

CEO

Summa Terra Ventures

Jake Jarman

President

Redstone Residential

Jake is President at Redstone Residential, Inc., particularly overseeing his team in creating a successful lease-up each year. While at Redstone Jake has led the takeover and property management of a $200mm fund acquiring assets all over the country. He's a well-known customer service and sales guru - he has directly overseen the lease up of Redstone’s entire portfolio. Jake's energy and enthusiasm have propelled Redstone into new states and created strong alliances with vendors, residents, and universities alike. Prior to Redstone, he was CEO at Rustica Hardware, taking it from a start-up to the multi-million dollar business it is today. Jake graduated from Brigham Young University with a degree in Exercise Science.

Ben Krasnow

NOVEL Daybreak

Crescent Communities

Ben Krasnow is the managing director for the southwest region of the Crescent Communities multifamily business. Most recently, Ben served as the vice president of Multifamily Development for McWhinney, a Denver-based Real Estate Development company. In this role, he managed the development of over 2,000 apartment homes in the Denver-area, as well as Austin, Portland, and Omaha. With 15 years of progressively complex experience in the multifamily real estate industry including the Bozzuto Group in Washington DC, Krasnow brings a wealth of knowledge to his new role at Crescent. Krasnow holds a master’s degree in real estate development from the University of Maryland.

Adam Berger

SVP

Avenue5 Residential

Adam Berger is a seasoned real estate professional with over two decades of experience, specializing in multifamily property management for the past nineteen years. Before joining Avenue5, he served as Vice President of Property Management at Mill Creek Residential Trust, overseeing operations for 6,023 units across multiple markets, and successfully directing projects with a total sales volume of nearly $1.75B. Adam's leadership is marked by a strategic focus on exceeding financial goals, fostering team synergy, and upholding high moral standards. With a track record of driving rent growth, achieving awards such as the 2018 AAMD Regional Manager of the Year, and holding certifications including Certified Property Manager (CPM) and Certified Apartment Manager (CAM), Adam Berger is a recognized authority in property management, bringing extensive skills and leadership acumen to the industry.

Belle Kurudzija

The Charles

Open Range, FKA Lisman Studio

Belle has been with the company since 2006, beginning her career with high-end residential projects. When the recession hit in 2008, she adeptly shifted her focus to commercial projects as the residential market slowed. Since then, she has skillfully balanced both commercial and residential projects, showcasing her versatility and resilience.

Last year, Belle was promoted to Head of the Commercial Department, where she now leads a talented team of junior and senior designers. In this role, she mentors her team, sharing her extensive knowledge and guiding their professional development.

Belle's projects have received national recognition and numerous awards over the years. Her eclectic style, coupled with thorough research, ensures that her designs stand out. She creates spaces that are both contemporary and timeless, making her a standout in the industry.

Mike Watson

Moderator

Summa Terra Ventures

Mike has been in business and real estate since 1994. He has owned and operated development, property management, construction, capital and real estate brokerage companies for many years. He specializes in property location, entitlement, development and sales.

Mike graduated from BYU and resides in Utah County with his wife Aubrey and their children. He loves the outdoors, fishing and community service.

Opening Remarks

Steve Adams

Steve Adams

Client Development Director

Engineered Tax Services

Steve Adams

Client Development Director

Engineered Tax Services

Licensed CPA with 35 years in Public Accounting, Strategic Planning and Advisory Services.

Former Owner and Founding Partner of a Top 20 CPA Firm in Utah.

Current Areas of Focus: Consulting, Planning and Advisory in areas of Real Estate Cost Segregation Services, State and Local Tax (SALT) Valuation Analysis, R&D Credits, 179D EPAct, and CPA Advisory Services.

Experienced as a CPA working with businesses in all areas of the construction, retail, wholesale, manufacturing, fabrication, outside-sales, distribution, medical, dental, legal, professional services, franchising, development, real estate, natural resources, multi-level marketing, trucking, transportation and software industries.

Why You Won't Want To Miss This CRE Deal-Making Conference:

What You’ll Learn From Salt Lake City Commercial Real Estate Leaders At This Event:

  • Given the significant construction activity in Salt Lake City's multifamily sector, how do you assess the balance between supply and demand? Are there specific submarkets or building segments experiencing oversupply, and what strategies can be employed to address this?

  • With the recent changes in zoning regulations allowing for increased density in residential neighborhoods, how does this impact the overall landscape of the Salt Lake City multifamily market?

  • Affordability requirements are now a prerequisite for developers seeking approval for new projects. How can developers navigate these requirements while maintaining profitability, and what impact might this have on the availability of affordable housing in the city?

  • With a significant increase in high-income renters in the Salt Lake City metro area, how are apartment complexes positioning themselves to attract this demographic?

  • What strategies are property owners and managers employing to effectively manage rental concessions while ensuring the long-term financial sustainability of their properties in Salt Lake City's competitive rental market?

How You'll Do More Business From Attending This Summit: Salt Lake City's multifamily market has experienced a surge in construction activity, leading to concerns about oversupply and its impact on market dynamics. This event will explore the root causes of the construction boom, assess the current state of oversupply and discuss strategies for mitigating its effects on the market. By attending the event, you will gather valuable information about the Salt Lake City housing market, enabling you to understand better the needs and preferences of renters and property owners. Learning about zoning changes, incentives for affordable housing and emerging design trends will help you tailor your services to meet the demands of this evolving market, allowing you to attract new clients and strengthen existing partnerships. 

Who You'll Network With At This Discussion: Owners, developers, investors, brokers, public officials, architects, tenants, engineers and providers moving the market forward. 

Why You Should Attend This Session: Bisnow events bring together the biggest power players in the industry to identify opportunities, build your network and expand your business. With the largest audience of commercial real estate professionals in the world, no one knows how to help your business more than us.

For questions, recommendations, comments or press inquiries please email our event producer, Kay VanAsdale at kay.vanasdale@bisnow.com.

To request disability-related accommodations, please contact rachel.sundin@bisnow.com no later than seven business days before the event.

Multifamily Projects & News

Agenda

Time Activity
2:00 PM
2:50 PM
Breakfast and Networking
2:50 PM
3:00 PM
Opening Remarks

Engineered Tax Services

3:00 PM
3:45 PM
Navigating Salt Lake's Evolving Multifamily Market Dynamics

Analyzing Development Cycles, Shifting Zoning Regulations and Affordable Housing Initiatives

3:45 PM
4:10 PM
Networking Break
4:10 PM
4:55 PM
Elevating the Rental Experience

Positioning Your Property for Success in a Saturated Market Through Resident-Centric Approaches

4:45 PM
5:30 PM
Closing Networking

Sponsors

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